BI Asset Management Fondsmaeglerselskab A S Invests $1.90 Million in UL Solutions Inc. $ULS

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the first quarter, Holdings Channel reports. The firm acquired 22,125 shares of the company’s stock, valued at approximately $1,896,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ULS. Pacer Advisors Inc. acquired a new stake in UL Solutions in the fourth quarter worth approximately $715,000. Arrow Capital Management LLC bought a new position in UL Solutions during the 4th quarter valued at $5,773,000. T. Rowe Price Investment Management Inc. increased its position in shares of UL Solutions by 10.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock valued at $463,618,000 after purchasing an additional 545,528 shares during the period. Invesco Ltd. raised its stake in shares of UL Solutions by 399.2% in the 4th quarter. Invesco Ltd. now owns 124,396 shares of the company’s stock worth $9,810,000 after buying an additional 99,478 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of UL Solutions in the 4th quarter worth $1,644,000.

Analyst Ratings Changes

ULS has been the subject of several research reports. Weiss Ratings raised UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. UBS Group raised their price objective on shares of UL Solutions from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their price objective on shares of UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.54.

Insider Buying and Selling

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of UL Solutions stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $91.57, for a total value of $1,144,625.00. Following the transaction, the chief executive officer directly owned 188,274 shares of the company’s stock, valued at $17,240,250.18. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Karen K. Pepping sold 725 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $97.74, for a total transaction of $70,861.50. Following the sale, the chief accounting officer owned 8,082 shares in the company, valued at $789,934.68. This represents a 8.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 65,705 shares of company stock valued at $6,288,800. Company insiders own 1.20% of the company’s stock.

UL Solutions Stock Up 0.3%

Shares of UL Solutions stock opened at $90.00 on Wednesday. UL Solutions Inc. has a 12-month low of $61.64 and a 12-month high of $107.54. The firm has a market capitalization of $18.14 billion, a PE ratio of 52.63, a price-to-earnings-growth ratio of 3.49 and a beta of 0.63. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $95.97 and its 200-day moving average is $84.99.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $758.00 million during the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.UL Solutions’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $0.37 EPS. Equities analysts anticipate that UL Solutions Inc. will post 2.1 earnings per share for the current year.

UL Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were paid a dividend of $0.145 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a yield of 0.6%. UL Solutions’s dividend payout ratio is currently 33.92%.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.